Interview with Neeraj Choudhary

Face2Face
Neeraj Choudhary
Neeraj Choudhary
Director and Chief Marketing Officer (CMO)
Eshopbox
Eshopbox

What are the latest technological innovations in the Indian e-commerce industry?

1. Big data technology to solve sizing issues and create virtual fitting rooms 2. Supply chain optimisation using technology by seamless integration of various systems 3. Technology to perform predictive analysis while designing new collection

How do you rate the adoption of cloud technology in the Indian e-commerce industry? How can the rate be increased?

I will say that there is a very good adoption rate. The problem seems to be the lack of availability of cloud technology platform integrated across all the departments. Solutions available targets one of the departments only like operations, marketing or customer support. But the overall picture needs to be clarified by the seamless integration of all these platforms.

Who are your clients? Which markets do you target?

At Eshopbox, we specialise in helping retailers sell on online marketplaces with services like: 1. Infrastructure Management (Server Hosting, CDN Set-up, Data Back-up, etc) 2. Product Cataloging (Product Description, Photography, SKUs, Buying Terms & Conditions, etc) 3. Customer Management (Multi-level Support, Live Chat, Ticket Management, CRM, etc) 4. Marketplace Publishing (which includes e-commerce websites like Jabong, Myntra, Flipkart, Amazon, Roposo, Snapdeal, Limeroad, Paytm Tradus, etc) 5. Sell (Inventory Management, Payment Gateway, Order Processing, Packaging & Handling, Deliver & Pick-ups) 6. Advertisement (Offline Media, Banner Ads, Discount Coupons, CPC, CPM, etc) Initially, when Eshopbox was only providing technology solutions, majority of our clients were from fashion apparel industries. Due to which we decided to target fashion apparel segment only, which is our forte for rendering diversified end-to-end solutions, and gradually enter other segments also. Fashion apparel segment is high ROE (return on equity) segment as compared to other segments like electronics, where competition is huge due to presence of market giants. Eshopbox's curation team gets in touch with clients to decide a range plan for their brand, collect feedback from the industry, suggest modifications and help them finalise a range for products and register the client with various market places. Products manufactured by the client for online sale will be stored at warehouses maintained by Eshopbox. We act as a mediator between market places and brand owners. We also give suggestions to clients on which discounts to participate for increasing the volume of their business through the 'eShopBox insight software'. The eShopBox insight is a real-time dash board view of the client's online business. It provides them information about their merchandise, help them decide the price of the product, help them plan the required stock levels, provide information about the previous lot of products (fabric, colour, category, design, market data about demand of different styles and categories, etc which help in maintaining the quality of products), have date-wise data about discounts on various market places, etc. This enables clients to work on business without wasting time on such information which is readily provided by our software. We have association with online marketplaces like Jabong, Myntra, Flipkart, Snapdeal, Limeroad, Paytm, Amazon, Roposo and others. As on date, we are managing online operations for approximately 100 brands like Duke, Saiesta, Anaphora, San Dee Impex, United Exim, etc.

Please share your growth percentage and other financial details like revenue, income, margin, etc in the last two years? What are your expectations from the coming 2 years?

For the quarter ended December 31, 2015 (FY16), we achieved Q-o-Q revenue growth of 77 per cent with 3-fold YTD growth. We have added 65 new clients in the current financial year, increasing the total client base by 200 per cent. This coupled with 28 per cent increase in average revenue per client is expected to result in 3-fold growth for the company in the current year. Also, the number of orders served per month has increased significantly over previous year. With this growth trend, additions to the client base in later-half of the current year and increasing average revenue per client, the company is conjecturing 5-fold growth in the next financial year. However, the average return rate of 30-35 per cent remains an area of concern for the management, and is expected to be lower than 20 per cent mark in the following financial year. Revenue growth is expected to continue in the medium term at the level witnessed in the recent past with increasing internet and mobile penetration, growing acceptability of online payments and favourable demographics.
Published on: 14/03/2016

DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.

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